On December 1, 2013, Geneva Jordan Opened Her New Business

Essay

On December 1, 2013, Geneva Jordan opened her new business with the following assets and liabilities. Complete the accounting equation for the firm. $$\begin{array} { l r l r } \text { Accounts Payable } & \$ 1,100 & \text { Prepaid Rent } & \$ 6,000 \\\text { Cash } & 3,950 & \text { Loans Payable } & 15,500 \\\text { Equipment } & 26,200 & \text { Supplies } & 1,250\end{array}$$ Assets $________ = Liabilities $________ + Owner's Equity $________